Tatas, Uber tie up for vehicle purchase, financing solutions

Tatas, Uber tie up for vehicle purchase, financing solutions

Tata Group companies and Uber Technologies Inc. have forged a new partnership to offer driver partners on the Uber platform a comprehensive vehicle purchase and ownership solution, Tata Sons said in a statement on Thursday.

As part of the agreement, owners and drivers on the Uber platform will now be able to buy cars like the Indica and Indigo from Tata Motors Ltd and gain access to flexible and customized financing solutions from Tata Capital Financial Services and Tata Motors Finance Ltd, get insurance from Tata AIG and seek operational support from Tata Business Support Services.

This is a pan-India initiative, which has been rolled out first in Hyderabad. Over the next one year, the initiative aims to fuel micro-entrepreneurship across India by enabling over 20,000 drivers to start their own business on the Uber platform, Tata Sons said in the statement.

The announcement of this partnership succeeds the Tata Opportunity Fund’s investment in Uber last year. This partnership reflects how Uber can better support drivers in India, and how Tata companies can collaborate to deliver seamless solutions to Tata Group business partners, it said.

“A unique strength of the Tata group is that it can provide convergent solutions, meeting multiple requirements of its customers, and this partnership is a distinctive example of this strength. We are delighted to take our relationship with Uber forward, leveraging its technology expertise and Tata companies’ capabilities and reach,” Madhu Kannan, member-group executive council, and group head for business development and public affairs at Tata Sons, said in the statement.

Eric Alexander, head of business, Uber Asia, said, “Uber has made it possible for millions of people in India to get a ride and work at the push of a button. It’s clear from talking to drivers how much they value their flexibility and independence. It’s why we are excited to work with Tata to help make it easier and more affordable for drivers to get on the road—increasing micro entrepreneurship in India,” he said.